for a while now GBP is unable to break the resistance of 1.4600 and close above it. As we getting into US session and for many of the traders it means end of the month, volatility is expected to increase. In addition we have divergence that is shown in slow stochastic indicator and some others, so it gives opportunity for a short position with very small risk and resistance point clearly defined above 1.4600. Stops should be placed considerably above it in regards to the spikes. It is expected for traders not to take risk on the last trading day of the month (US- memorial day Monday). Targets should start at 1.4500 and below.
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